Bare ActsCompanies Act, 1956

Section 587

Suits, etc., stayed on winding up order

Amendment status not verified — confirm the current text below against the official source.

Where an order has been made for winding up an unregistered company, no suit or other legal proceeding shall be proceeded with or commenced against any contributory of the company in respect of any debt of the company, except by leave of the [Tribunal] and except on such terms as the [Tribunal] may impose.

Section 587 – Companies Act, 1956 | DailyLaw.ai